What is DRC?

Digital Reserve Currency (DRC) is an ERC-20 token on the Ethereum blockchain. DRC is designed to act as a digital store of value with a limited supply of one billion DRC tokens and a zero inflation rate. No DRC tokens have ever been premined and no more DRC tokens will ever be minted. The scarcity of DRC was embedded into the code and nothing can change it once DRC smart contract was deployed into Ethereum network. DRC does not have its own protocol but relies on the already existing Ethereum proof-of-work blockchain.

DRC was created with “simplicity is the ultimate sophistication” in mind and is meant to act as a decentralized store of value — with a simple and universally comprehensible token design. Maxim Nurov, the founder of DRC and a longtime digital assets advocate from Washington, D.C., has said that he not only developed the DRC token with simplicity and ease of adoption in mind, but that he also intends for it to work in tandem with the U.S. securities laws and SEC regulations.

DRC has an innovative distribution structure, as 100% of the total token supply was issued to the secondary market using the Uniswap decentralized exchange. There were no initial coin offering or DRC token presales. Instead, Nurov spent 1,000 USD worth of Ethereum to create the initial ETH/DRC liquidity pool at Uniswap exchange and later locked this liquidity with the Unicrypt liquidity locking service. Once all the DRC token supply became available on the secondary market, Nurov purchased 250 million DRC tokens on Uniswap and will be selling his DRC holdings strictly in accordance with the vesting schedule (not more than 25 million DRC per month), with a major portion of the profits going to be contributed to the Uniswap DRC/ETH liquidity pool and to be donated to the DRC Foundation Fund managed by the DRC Community, and a small portion to be kept by Nurov. The DRC governance structure and community initiatives can be viewed at the DRC Foundation website.

DRC Decentralisation

DRC was designed as a fully decentralized ecosystem and will be controlled by the DRC community. The DRC Foundation, which is led by the DRC community representatives, will be the primary decision making body that will direct the development of the project, with Nurov primarily maintaining an advisory role. While he has expressed that he intends on being mostly hands off in the decision making process of the day to day operations of the project, his considerable financial and legal expertise and knowledge of the digital assets market infrastructure will certainly be an asset to the Foundation as the project moves forward. Nurov’s past experience includes managing Black Square Capital, a global crypto hedge fund that invested in highly liquid digital assets, and Digital Finance LLC, which provides easy exposure to digital assets and Bitcoin interest accounts.

You can read the DRC whitepaper here and join the DRC community on Telegram and Discord.

WRITTEN BY

DRC Foundation

The DRC Foundation is a community-led organization dedicated to supporting the growth and development of the DRC ecosystem.